Allient Announces Acquisition of SNC Manufacturing
11 Enero 2024 - 3:15PM
Business Wire
Expands capabilities and capacity in
Allient’s Allied Power Technology Pillar
Allient Inc. (formerly known as Allied Motion Technologies Inc.)
(Nasdaq: ALNT) (“Allient” or the “Company”), a global designer and
manufacturer of precision and specialty Motion, Controls and Power
products and solutions for targeted industries and applications,
today announced the acquisition of SNC Manufacturing Co., Inc.
(“SNC”), a premier designer and global manufacturer of electrical
transformers serving blue-chip customers in defense, industrial
automation, alternative power generation and energy, including
electric utilities and renewable energy. SNC’s offerings are
complementary to Allient’s current power quality capabilities while
also providing needed incremental, low-cost manufacturing capacity.
SNC will become a Technology Unit of Allient within the Allied
Power Technology Pillar and will report to Ashish Bendre, Corporate
VP and Group President.
Richard S. Warzala, Chairman, President and CEO of Allient,
commented, “SNC is a solid addition to our Allied Power pillar. In
addition to extending our capabilities in the clean power industry,
SNC will provide us broader and deeper reach into industrial
automation, defense, medical and in the energy and alternative
energy markets. The business will also provide expanded
opportunities to leverage sales channels and, additionally, we will
gain much-needed manufacturing capacity and expertise to further
grow our power quality business. And lastly, we are confident that
through the utilization of Allient Systematic Tools we are in a
good position to leverage our expertise to drive productivity and
margin improvements over time.
“We are honored that John Vette III, selected Allient to carry
the legacy of SNC forward after owning and leading the Company for
50+ years. John has built a strong leadership team and Jim Koepke
the current President and COO of SNC will continue to lead SNC
under Allient as the VP and General Manager of the Technology Unit.
Jim will report directly to Ashish Bendre. We are confident that
under the leadership of Ashish and Jim, the opportunities for
Allied Power with this new addition will be greatly accelerated. We
welcome the leadership team and the entire SNC workforce to the
Allient family and we look forward to continued growth and success
in the future.”
Founded in 1946, SNC is headquartered in Oshkosh, Wisconsin with
approximately 440 employees in three locations. With approximately
$40 million in revenue for the trailing twelve months, the business
has other manufacturing facilities in Mexico and China. SNC’s
leadership team will be staying with the business.
About Allient Inc.
Allient (Nasdaq: ALNT) is a global engineering and manufacturing
enterprise that develops solutions to drive the future of
market-moving industries, including medical, life sciences,
aerospace and defense, industrial automation, robotics,
semi-conductor, transportation, agriculture, construction and
facility infrastructure. A family of globally responsible
companies, Allient takes a One-Team approach to “Connect What
Matters” and provides the most robust, reliable, and high-value
products and systems by utilizing its core Motion, Controls, and
Power technologies and platforms.
Headquartered in Buffalo, N.Y., Allient employs more than 2,250
team members around the world. To learn more, visit
www.allient.com.
Safe Harbor Statement
The statements in this news release that relate to future plans,
events or performance are “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate, or imply future
results, performance, or achievements. Examples of forward-looking
statements include, among others, statements the Company makes
regarding expected operating results, margin improvement, sales
growth, anticipated levels of capital expenditures, the Company’s
belief that it has sufficient liquidity to fund its business
operations, and expectations with respect to the conversion of
backlog to sales. Forward-looking statements are neither historical
facts nor assurances of future performance. Instead, they are based
only on the Company’s current beliefs, expectations and assumptions
regarding the future of the Company’s business, future plans and
strategies, projections, anticipated events and trends, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict
and many of which are outside of the Company’s control. The
Company’s actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, general
economic and business conditions, conditions affecting the
industries served by the Company and its subsidiaries, conditions
affecting the Company's customers and suppliers, competitor
responses to the Company's products and services, the overall
market acceptance of such products and services, the pace of
bookings relative to shipments, the ability to expand into new
markets and geographic regions, the success in acquiring new
business, the impact of changes in income tax rates or policies,
impacts of a global pandemic, the resurgence of a pandemic or the
lingering effects of a pandemic, and of businesses’ and
governments’ responses to a pandemic on our operations and
personnel, and on commercial activity and demand across our and our
customers’ businesses, and on global supply chains; the ability to
attract and retain qualified personnel, the ability to successfully
integrate an acquired business into our business model without
substantial costs, delays, or problems, and other factors disclosed
in the Company's periodic reports filed with the Securities and
Exchange Commission. Any forward-looking statement speaks only as
of the date on which it is made. New risks and uncertainties arise
over time, and it is not possible for us to predict the occurrence
of those matters or the manner in which they may affect us. The
Company has no obligation or intent to release publicly any
revisions to any forward looking statements, whether as a result of
new information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111484206/en/
Investor Contacts: Deborah K. Pawlowski / Craig P.
Mychajluk Kei Advisors LLC 716-843-3908 / 716-843-3832
dpawlowski@keiadvisors.com / cmychajluk@keiadvisors.com
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